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Coronavirus (COVID-19)—International Swaps and Derivatives Association welcomes postponement of Basel III

Published on: 31 March 2020
Published by LNB News

LNB News 31/03/2020

Document Information

Issue Date: 31 March 2020

Published Date: 31 March 2020

Jurisdiction(s): United Kingdom

Article summary

The International Swaps and Derivatives Association (ISDA) has published a statement thanking the Basel Committee for their quick response in postponing the implementation of Basel III due to the coronavirus (COVID-19) pandemic. Basel III will be postponed by one year to 1 January 2023. ISDA believe that the delay of Basel III provides much needed certainty for firms on how to manage scarce resources during the pandemic. ISDA however, urges regulators to go one step further and delay the next phases of the initial margin implementation due to become effective in September 2020 and September 2021 to allow small entities to focus resources on the coronavirus response.

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